The Goldman Sachs Group Increases Blueprint Medicines (NASDAQ:BPMC) Price Target to $168.00

Blueprint Medicines (NASDAQ:BPMC) had its price objective increased by The Goldman Sachs Group from $121.00 to $168.00 in a report released on Monday morning, Benzinga reports. They currently have a buy rating on the biotechnology company’s stock.

Other equities research analysts have also recently issued research reports about the stock. Barclays raised their price objective on shares of Blueprint Medicines from $70.00 to $75.00 and gave the stock an equal weight rating in a research note on Friday, May 3rd. Piper Sandler lifted their price objective on shares of Blueprint Medicines from $78.00 to $104.00 and gave the company a neutral rating in a report on Friday, May 3rd. Citigroup upped their price objective on shares of Blueprint Medicines from $65.00 to $76.00 and gave the stock a sell rating in a research report on Friday, May 3rd. SVB Leerink upgraded Blueprint Medicines from an underperform rating to a market perform rating and raised their target price for the company from $50.00 to $97.00 in a research report on Monday. Finally, Needham & Company LLC reaffirmed a buy rating and issued a $97.00 price target on shares of Blueprint Medicines in a report on Thursday, May 2nd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of Hold and a consensus price target of $100.31.

Blueprint Medicines Trading Down 0.4 %

Shares of Blueprint Medicines stock opened at $108.34 on Monday. The stock has a market cap of $6.63 billion, a PE ratio of -22.52 and a beta of 0.65. The firm has a fifty day moving average price of $92.74 and a 200 day moving average price of $82.19. Blueprint Medicines has a 1 year low of $43.89 and a 1 year high of $110.93. The company has a debt-to-equity ratio of 0.67, a current ratio of 3.76 and a quick ratio of 3.61.

Blueprint Medicines (NASDAQ:BPMC) last released its quarterly earnings data on Thursday, February 15th. The biotechnology company reported ($1.82) earnings per share for the quarter, beating analysts’ consensus estimates of ($2.04) by $0.22. The business had revenue of $71.96 million during the quarter, compared to analyst estimates of $67.34 million. Blueprint Medicines had a negative return on equity of 193.48% and a negative net margin of 102.15%. The company’s revenue was up 85.5% on a year-over-year basis. During the same quarter last year, the business posted ($2.65) EPS. Equities research analysts predict that Blueprint Medicines will post -5.38 earnings per share for the current year.

Insider Buying and Selling at Blueprint Medicines

In other news, Director Jeffrey W. Albers sold 25,073 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $87.28, for a total value of $2,188,371.44. Following the completion of the sale, the director now directly owns 176,050 shares in the company, valued at $15,365,644. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Michael Landsittel sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $105.00, for a total value of $1,050,000.00. Following the transaction, the chief financial officer now directly owns 47,286 shares in the company, valued at $4,965,030. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jeffrey W. Albers sold 25,073 shares of Blueprint Medicines stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $87.28, for a total value of $2,188,371.44. Following the completion of the sale, the director now owns 176,050 shares in the company, valued at approximately $15,365,644. The disclosure for this sale can be found here. In the last quarter, insiders sold 104,123 shares of company stock worth $9,554,679. Insiders own 3.88% of the company’s stock.

Institutional Trading of Blueprint Medicines

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in Blueprint Medicines by 2.5% during the fourth quarter. Vanguard Group Inc. now owns 6,114,970 shares of the biotechnology company’s stock worth $564,045,000 after buying an additional 147,827 shares during the period. Wellington Management Group LLP raised its position in Blueprint Medicines by 3.2% in the third quarter. Wellington Management Group LLP now owns 5,080,521 shares of the biotechnology company’s stock valued at $255,144,000 after purchasing an additional 156,807 shares during the period. Rock Springs Capital Management LP raised its position in Blueprint Medicines by 22.8% in the third quarter. Rock Springs Capital Management LP now owns 2,685,294 shares of the biotechnology company’s stock valued at $134,855,000 after purchasing an additional 498,622 shares during the period. Polar Capital Holdings Plc lifted its stake in Blueprint Medicines by 108.0% during the third quarter. Polar Capital Holdings Plc now owns 1,040,000 shares of the biotechnology company’s stock worth $52,229,000 after purchasing an additional 540,000 shares in the last quarter. Finally, Avidity Partners Management LP boosted its position in shares of Blueprint Medicines by 81.1% during the third quarter. Avidity Partners Management LP now owns 751,600 shares of the biotechnology company’s stock worth $37,745,000 after buying an additional 336,600 shares during the period.

Blueprint Medicines Company Profile

Blueprint Medicines Corporation, a precision therapy company, develops medicines for genomically defined cancers and blood disorders in the United States and internationally. The company is developing AYVAKIT for the treatment of systemic mastocytosis (SM) and gastrointestinal stromal tumors; BLU-263, an orally available, potent, and KIT inhibitor for the treatment of indolent SM, and other mast cell disorders.